ZETTA Group Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	-143.37	-84.82	-22.68	-496.86
Depreciation & Amortization	57.33	55.32	51.34	59.85
Other Amortization	3.2	2.98	2.49	0.54
Loss (Gain) From Sale of Assets	0.25	-0.13	-0.04	-0.08
Asset Writedown & Restructuring Costs	9.95	0.03	1.16	24.04
Loss (Gain) From Sale of Investments	79.31	-19.15	-113.26	152.53
Provision & Write-off of Bad Debts	-2.6	4.14	-0.58	1.14
Other Operating Activities	52.08	50.62	83.61	119.36
Change in Accounts Receivable	-53.56	-65.88	119.1	99.82
Change in Inventory	-2.47	3.27	7.9	-4.06
Change in Accounts Payable	-1.11	15.13	-91.13	-18.9
Change in Other Net Operating Assets	-1.9	53.63	-40.72	25.38
Operating Cash Flow	0.9	19.27	15.33	-48.5
Operating Cash Flow Growth	-95.32%	25.68%	-	-
Capital Expenditures	-24.8	-21.67	-27.72	-89.9
Sale of Property, Plant & Equipment	2.63	0.41	185.88	47
Cash Acquisitions	-1.1	-2.71	-1.8	-16.23
Divestitures	0.18	-	73.01	267.21
Investment in Securities	9.56	40.54	-78.57	11.14
Other Investing Activities	-35.14	-2.24	-0.35	-
Investing Cash Flow	-48.68	14.32	150.46	219.22
Short-Term Debt Issued	477.81	90	228	-
Long-Term Debt Issued	-	-	-	112
Total Debt Issued	477.81	90	228	112
Short-Term Debt Repaid	-349.67	-397.6	-265.27	-
Long-Term Debt Repaid	-9.59	-6.62	-7.39	-137.11
Total Debt Repaid	-359.25	-404.22	-272.66	-137.11
Net Debt Issued (Repaid)	118.56	-314.22	-44.66	-25.11
Issuance of Common Stock	33.82	137.64	-	10
Repurchase of Common Stock	-51.02	-0.27	-	-
Common Dividends Paid	-36.11	-79.22	-63.24	-65.5
Other Financing Activities	-16.09	110.35	-6.93	-2.61
Financing Cash Flow	49.16	-145.73	-114.83	-83.22
Foreign Exchange Rate Adjustments	-0.83	-	-	-
Net Cash Flow	0.55	-112.14	50.96	87.5
Free Cash Flow	-23.9	-2.4	-12.39	-138.4
Free Cash Flow Margin	-6.90%	-0.73%	-4.11%	-40.72%
Free Cash Flow Per Share	-0.01	-0.00	-0.01	-0.07
Cash Interest Paid	0.06	0.34	0.26	1.03
Cash Income Tax Paid	23.75	-1.13	-40.73	9.78
Levered Free Cash Flow	3.63	-264.77	-124.66	-630.59
Unlevered Free Cash Flow	17.04	-237.22	-71.53	-559.53
Change in Working Capital	-55.26	10.28	13.28	90.99

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.